Foundation of the Minnesota Medical Association

Analysis

Foundation of the Minnesota Medical Association is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in August 1961, 65 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundation of the Minnesota Medical Association reported income of $295k and spending of $191k, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $138k to $295k (+114%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 61% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundation of the Minnesota Medical Association sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within MN. Charities of a similar size with the same main cause include Rising Tide Ministries ($295k), Fahy Garden Apartments C/O Goodale & Barbieri ($295k) and Its About the Warriors Foundation ($295k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% of the total. Other salaries and wages came to $62k. At year end it held assets of $2.0m against liabilities of $35k, net assets of $1.9m.